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GM’s Adam Opel Unit Applies to Change Its Legal Status to AG


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GM’s Adam Opel Unit Applies to Change Its Legal Status to AG

By Richard Weiss - Nov 23, 2010 1:36 PM CT

General Motors Co.’s German unit Adam Opel GmbH today applied to change its legal form back to an Aktiengesellschaft, or AG, from the current Gesellschaft mit beschraenkter Haftung, the company said in a statement.

Opel Chief Executive Officer Nick Reilly in the statement said the carmaker’s financial position is currently “better than planned” and new models are in “great demand.”

Under German law, a GmbH cannot be listed on a stock exchange, while an AG is eligible.

link:

http://www.bloomberg.com/news/2010-11-23/gm-s-adam-opel-unit-applies-to-change-its-legal-status-to-ag.html

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